Senators Introduce Semiconductor Support Bill
A bipartisan group of senators unveiled a bill June 24 that would provide billions of dollars of federal funding for semiconductor research and manufacturing. The American Foundries Act, which is expected to be formally introduced June 29, according to a June 25 Reuters report, comes amid a strong bipartisan push (see 2006110038) for funding of U.S. technology innovation to counter China's influence in the sector.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
The bill includes a $15 billion federal grant program to incentivize new domestic semiconductor manufacturing and authorizes $5 billion for public-private partnerships to modernize U.S. manufacturing facilities, the Semiconductor Industry Association said June 25. “The U.S. simply cannot afford to cede more ground to competing countries in the production of semiconductor technology,” said SIA CEO John Neuffer, adding that Congress should work to “strengthen the bill and bolster domestic semiconductor manufacturing.” The bill is backed by Sens. Tom Cotton, R-Ark.; Chuck Schumer, D-N.Y.; Jim Risch, R-Idaho; Jack Reed, D-R.I.; Josh Hawley, R-Mo.; Angus King, I-Maine; Susan Collins, R-Maine; Kirsten Gillibrand, D-N.Y.; Marco Rubio, R-Fla.; and Doug Jones, D-Ala.